ECON 2302
Principles of Microeconomics
Spring 2008
Pinnacle Campus
INSTRUCTOR: Joseph
Eblen TEL: 512-223-1795 x 2400
OFFICE: 6th
Floor Adjunct Offices CLASSROOM:
504
OFF. HOURS: Wednesday,
And by appointment
COURSE
MATERIALS:
Principles
of Microeconomics—N. Gregory Mankiw, 4th. ed.
COURSE DESCRIPTION:
An introduction to the microeconomics of the
modern industrial society. Emphasis is on supply and demand, cost and
price concepts, market structures, income distribution and similar issues.
COURSE RATIONALE:
This course is meant to give students insight
into the dynamics of a
market based economy
and how through its mechanism scarce resources are
allocated. The theoretical and actual role of the
government in this
market system will
also be addressed. The knowledge gained
in the
course will make
students better informed citizens and allow them to
follow the debated
over various economic events and policies reported in
the news media. This course is also a foundation course that
will
prepare students to
be successful in upper division finance, marketing,
business
administration, economics, government, and social work courses.
COMMON COURSE OBJECTIVES/STUDENT
OUTCOMES
The objectives
of this course are to:
3. expose
you to repeated application of some of the core ideas and concepts of the
discipline.
In Specific:
Know and understand the concept of scarcity and opportunity cost.
·
Know
and understand the role of government in providing public goods, correcting for
inefficiencies in the market place, and promoting competition.
INSTRUCTIONAL METHODOLOGY:
I. Success: To
see every student succeed is my teaching and educational commitment. Success is measured in gaining an
understanding of our subject and in applying it in the world around you.
II. Interactive Learning:
When learning occurs, usually the teacher doesn't lecture for an hour or
so while the class just sits. Questions
and constructive comments help clarify a subject and increase everyone's understanding.
I welcome them. Throughout lectures I will lay out the principles that
our subject is based on and demonstrate applications of them; I will take
whatever time is necessary for clarity throughout our class, stop frequently to
answer questions, and work to see that every student who wants to learn succeeds.
III. Listening: The
act of listening can lead to understanding and will help in taking good
notes. Also, if there is something in
the lecture that is not clear, this can be the best time to ask about it. In addition, a fair amount of the test
questions will come from good notes. IV. Problem Solving: The key in understanding Microeconomics is
gaining the ability to solve problems.
In doing so, first, one must understand the material; second, one should
use the given tools such as graphs and formulae to arrive at the correct
answer. In lecture, I will work example
after example to demonstrate how it is done.
You will gain experience and knowledge from solving problems with your
classmates. On practicing problem solving, it is important to work together
and give help when needed because problem solving is a key to
mastering microeconomics.
V. Reading: Read
the assigned material before coming to class. This will help in your understanding of the
material and will reinforce the lecture.
If some concept still remains unclear, I will help so that you will be
able to stay current with the subject.
Economics is an analytical subject that builds upon itself
so that if you don't understand the first step, the second step will not be as
straightforward. It's easy to fall behind.
When you do not understand something, please see me as soon as possible
so that your understanding of the subject will remain clear.
ATTENDANCE:
Mandatory. Some material given in class will not come
from the textbook. Furthermore,
because we meet only twice a week, a volume of material will be covered makes
the effort on you that much greater to catch up. In addition, the class and your notes will
support continued understanding of the subject and will make a difference in
one's knowledge and final grade. After 4 unexcused absences the
student will be contacted and asked to start attending class or then (s)he will be expected to withdraw from the class. If neither is done, the student will receive an F.
COURSE REQUIREMENTS:
Assignments: --Check Blackboard weekly where our assignments
and schedule are given.
--Check your ACC emails from
me daily for required homework assignments & quizzes.
Examinations:
EXAMS: Exam I-54pts.
Exam
II-54pts.
Exam
III-54pts.
FINAL-54pts. –
Exams are lecture/notes-based and will include the Questions & assigned Problems/Applications of
each chapter. The final is cumulative and taking it is optional. Taking the Final can only improve your score.
If it is higher than any of the other
exams, it can be substituted for Exam I, Exam II or Exam III. The exams will be multiple choice and
true/false. The exams will be given the
first half of the class with a lecture on new material covering the remaining
time. For all exams, you will be allowed to bring a 3 x 5 note card with
information ( no solutions ) on one side only. You can bring calculators; they must be
cleared before the test.
Missed
Examinations: There are no
make-up exams and then taking the Final becomes mandatory. Absence
from an exam or a class( not exams) is excused at the
instructor’s discretion and make sure your excuse is a professor-approved,
legitimate, verifiable one (a death in the immediate family, an
illness, an ACC approved function) and notify me about it before the
class or within 24 hours of the missed class; otherwise a zero grade will be
given.
Quizzes/HW: There
will be three, 6 points each, and will be in class or through email. Assigned homework, not to turn in, is welcomed
and will be assessed and returned, but no points will be given. However, HW will help in your understanding
and for the tests. In addition, if you
are very near the next highest grade at the end of the semester, this work will
be taken into account.
Participation:
Occasionally points will be
given to classmates who demonstrate a principle or solve a problem on the board
for the class.
Wall Street Journal Report: One
short paper based on a Wall Street Journal showing a Micro principle. Due by 2 April; this can be handed in
earlier. Details will be given in class.
STUDENTS ARE EXPECTED TO REVIEW THEIR GRADES ON
BLACKBOARD. ONE WEEK AFTER THE GRADE IS
POSTED, IT BECOMES FINAL.
Examinations:
GRADES:
180+ A(90-100%) DETAILS: Three Exams -162pts. 160-179 B(80-89%) Quizzes/HW - 18pts. 140-159 C(70-79%) Attendance - 10pts. 120-139 D(60-69%) WSJ
Report - 10pts. Below 120 F(59%-) Total –200pts
EXAM
DATES: Exam I-54pts. – 17 Sept.(tentative)
Exam II-54pts.– 19 March (tentative)
Exam
III-54pts. – 30 April(definite)
FINAL-54pts.
– May 7, (optional)
HOW TO STUDY FOR THIS
CLASS: 1-Read the chapter when it is assigned.
2-Read and reread the lecture notes.
3-Do the Questions for Review using the lecture notes and book, if
necessary. 4-Try again
to do the Questions for Review without using the lecture notes and book. 5-Repeat this process until you do not have
to use the book or notes, but can answer/work the problems on a blank sheet of
paper. 6-Do the Assigned Problems &
Applications using the same method (I will provide solutions for this). 7-Study the lecture notes thoroughly.
8-Never hesitate to stop by my office for my help.
Check Blackboard and your Email:
Assignments will be posted on Blackboard. Emails will be sent to you, at times, during
the semester to turn in a solution to a problem for homework points.
CLASSROOM CIVILITY: Civility is the rule and respect for your classmates is
expected. Everyone has paid for the
opportunity to learn and participate.
Any disruption to the learning process and/or the lecture will not be
tolerated. Coming in late for class
or leaving the classroom during lecture is not permitted PERIOD. (Please see
me first and you will find I will be supportive and accommodating if you do
have to come in late or leave the class early.) Examples of other disruptive behavior
follow. Prolonged chattering within
groups is intolerable; after the first verbal warning, if the noise continues,
you will be asked to leave the class and not return until you visit with
me. Making offensive remarks, using cell
phones, reading during class, and dominating the discussions are all a NO.
COURSE/CLASS POLICIES:
All ACC guidelines and
policies as outlined in the student handbook and the college catalog will be
followed (scholastic dishonesty, withdrawals, incomplete grades, etc.)
Concerning freedom of expression, each student is strongly encouraged to
participate in class. In any classroom situation that includes discussion and
critical thinking, there are bound to be many differing viewpoints. These
differences enhance the learning experience and create an atmosphere where
students and instructors alike will be encouraged to think and learn. On sensitive and volatile topics, students
may sometimes disagree not only with each other but also with the instructor. It is expected that faculty and students will
respect the views of others when expressed in classroom discussions.
SCHOLASTIC DISHONESTY:
Acts prohibited by the
College for which discipline may be administered include scholastic dishonesty,
including but not limited to cheating on an exam or quiz, plagiarizing, and
unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be
the result of their thought, research or self-expression. Academic work is defined as, but not limited
to tests, quizzes, whether taken electronically or on paper; projects, either
individual or group; classroom presentations, and homework. If a student participates in scholastic
dishonesty, the student will be dropped and a grade of F will be recorded.
Students with Disabilities:
Each ACC campus offers
support services for students with documented physical or psychological. Students with disabilities must request
reasonable accommodations through the Office for Students with Disabilities on
the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester. Students must contact me before an exam or
assignment so accommodations can be made.
SUBJECTS
OF INTEREST CHAPTER
-----------------
1.
Microeconomics and its Concepts Class
2. The Nature of Economics
and the Economic Problem Class/ Ch.1 & 2 3. Terms of Trade Chapter 3
4. The Mechanics of Supply and Demand Class/ Ch.4
TEST I
5. Elasticity and its Applications Chapter 5
6. Supply, Demand and Government Policies Chapter 6
7. Consumers, Producers and the Efficiency of
Markets Chapter 7
8. Cost of Taxation Chapter
8
9. Externalities Chapter 10
TEST II
10. The Cost of Production
Chapter 13
11.
Firms in Competitive Markets Chapter 14
12.
Monopoly
Chapter 15
13.
Oligopoly
Chapter 16
14.
Monopolistic Competition Chapter 17
15.
Markets for the Factors of Production Chapter 18
16. Earnings and Discrimination, The
Distribution of Income Chapter 19-20
TEST
III
FINAL
To see every student succeed is my
teaching and educational commitment.
Success is measured, first, in gaining an understanding of our subject
and, second, in applying it in the world around you. Through lectures I will lay out the
principles that our subject is based on and demonstrate applications of them; I
will take whatever time is necessary for clarity throughout our class, stop
frequently to answer questions, and work to see that every student who wants to
learn succeeds.
The act of learning is hard work and that is something no
one can do for you. Also, with
learning, it is as Confucius said, I hear, I forget; I see, I understand; I do,
I remember. The learning in our class will be interactive. You may be called on to present a solution to
an assigned problem, or to share with the class some event of interest you’ve
found in the WSJ, or to answer questions about an ongoing lecture. At times, I’ll ask you to demonstrate what
I’ve said to a fellow classmate to see if you both understand a key point.
When one asks
what is microeconomics, many people can’t quite get at
the definition. Actually, this is not
that surprising because it plays so many roles in our lives. It can begin with prices. And from that we can make buying and/or
selling decisions through entering many types of businesses and markets. Our subject includes our wages we receive
for our labor. All the while,
governmental policies and the effects they have on our lives is another area of
interest. Everyday we put economics into
practice; we all have a sense of microeconomics, but, perhaps, not in an
analytical and logical way. Here, we’ll
work toward gaining that. Microeconomics
has both explanatory and predictive power. Economics can be particularly
challenging. Its tools are profession
specific terminology & concepts, problem solving,
and, most important, the ability to explain the economic sense of particular
situations. By the end of the course
the students will have a clearer comprehension of the events we find occurring
in our lives today and the role each of us play in them. I would like you to have gained from the
knowledge here the satisfaction of understanding and the enjoyment and power of
thought.